MIRA INFORM REPORT
|
Report No. : |
349301 |
|
Report Date : |
09.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
FLSMIDTH PRIVATE
LIMITED |
|
|
|
|
Formerly Known
As : |
FLS AUTOMATION INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
"Flsmidth House" 34, Egatoor, Rajiv Gandhi Salai, Kelambakkam, Chennai – 603103, Tamilnadu |
|
Tel. No.: |
91-44-47481000/ 27411000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation
: |
18.04.2000 |
|
|
|
|
Com. Reg. No.: |
18-044765 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.258.433 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26941TN2000PTC044765 |
|
|
|
|
IEC No.: |
0401011810 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF4997N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Subject is engaged in the business of manufacturing and supplying of equipment for cement plants, supervision of erection and commissioning of cement plants and also undertakes turn-key projects (including erection and commissioning) for minerals processing industries ("Project Division") and renders related services and also renders certain engineering, information technology and related services. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (68) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 21900000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
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|
Litigation : |
Exist |
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|
|
|
Comments : |
Subject is a part of “FLSmidth Group” and is a well-established company
having fine track. It was incorporated in the year 2000 and is engaged in distributing
equipment, services and expertise for the cement and minerals industries. Rating reflects company’s strong financial profile marked by its
healthy capital structure from its sound networth base, zero debt position
and comfortable liquidity position recorded during the year 2014. Moreover, rating also considers company’s strong established position
and extensive experience of the promoters in the industry. Trade relations are trustworthy. Business is active. Payments are
reported to be regular and as per commitments. In view of good financial position and strong holding support, subject
can be considered good for normal business dealings at usual trade terms and
conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term bank
facilities = AA- |
|
Rating Explanation |
High degree of
safety and very low credit risk. |
|
Date |
January, 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term bank facilities
= A1+ |
|
Rating Explanation |
Very strong degree
of safety and carry lowest credit risk. |
|
Date |
January, 2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION DENIED BY
|
Name : |
Mr. Prassana |
|
Designation : |
Secretary of Chief Financial Officer |
|
Contact No.: |
91-44-47481000 |
LOCATIONS
|
Registered Office : |
"Flsmidth House" 34, Egatoor, Rajiv Gandhi Salai, Kelambakkam, Chennai – 603103, Tamilnadu, India |
|
Tel. No.: |
91-44-47481000 / 27411000 |
|
Fax No.: |
91-44-27470301/ 0302 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
Express Trade Tower 3, 1st and 2nd Floor, Plot No.79, Hero Honda Chowk, Sector-34, Gurgaon - 122001, Haryana, India |
|
E-Mail : |
|
|
|
|
|
Factory : |
Plot No. 7, Sector-8, HSIIDC Growth Centre, Bawal, District Rewari - 123501, Haryana, India |
|
Tel. No.: |
91-1284-337501-02 |
DIRECTORS
As on 26.12.2014
|
Name : |
Carsten Riisberg Lund |
|
Designation : |
Managing Director |
|
Address : |
Wallerfanger Strabe 25, 66740 Saarlouis, Saarlouis, Na, Germany |
|
Date of Birth/Age : |
03.12.1962 |
|
Date of Appointment : |
01.01.2015 |
|
DIN No.: |
06375501 |
|
|
|
|
Name : |
Stephen James Gaffney |
|
Designation : |
Director |
|
Address : |
12 Perth Street, Camp Hill, Queensland - 4152, Australia |
|
Date of Birth/Age : |
06.05.1971 |
|
Date of Appointment : |
30.09.2013 |
|
DIN No.: |
06571464 |
|
|
|
|
Name : |
Mr. Sivasubramanian Natarajan |
|
Designation : |
Additional Director |
|
Address : |
New No.27, Old No.46-F, Veerapandi Nagar 1st Cross, Street, Choolaimedu, Chennai - 600094, Tamilnadu, India |
|
Date of Appointment : |
19.02.2015 |
|
DIN No.: |
07065048 |
KEY EXECUTIVES
|
Name : |
Mr. Prassana |
|
Designation : |
Secretary of Chief Financial Officer |
|
|
|
|
Name : |
Mr. Viraraghavan Vijayagopal |
|
Designation : |
Company Secretary |
|
Address : |
GF-2 Akshaya 12 Chamiers Road, Nandanam, Chennai - 600035, Tamil Nadu, INDIA |
|
Date of Appointment : |
06.11.2000 |
|
PAN No.: |
AADPV2272J |
MAJOR SHAREHOLDERS
As on 26.12.2014
|
Names of Shareholders |
|
No. of Shares |
|
Flsmidth Minerals Holding Aps, Denmark |
|
16999900 |
|
Flsmidth Minerals Holding Aps And Flsmidth A/S, Denmark |
|
100 |
|
Flsmidth Minerals Holding Aps, Denmark |
|
24143314 |
As on 26.12.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacturing and supplying of equipment for cement plants, supervision of erection and commissioning of cement plants and also undertakes turn-key projects (including erection and commissioning) for minerals processing industries ("Project Division") and renders related services and also renders certain engineering, information technology and related services. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
ASV 'N' Ramana Tower, No.52, Venkatnarayana Road, T. Nagar, Chennai – 600017, Tamilnadu, India |
|
PAN No.: |
AACFD3771D |
|
|
|
|
Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
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|
|
|
Holding Company : |
FLSmidth Minerals Holding ApS, Denmark |
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|
|
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Holding Company of
the Holding Company : |
FLSmidth A/S, Denmark |
|
|
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|
Ultimate Holding
Company : |
FLSmidth and Company A/S, Denmark |
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Fellow Subsidiaries
: |
|
CAPITAL STRUCTURE
As on 26.12.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
45200000 |
Equity Shares |
Rs.10/- each |
Rs.452.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25843314 |
Equity Shares |
Rs.10/- each |
Rs.258.433
Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
258.433 |
258.433 |
258.433 |
|
(b) Reserves &
Surplus |
7419.801 |
7312.122 |
7021.744 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
7678.234 |
7570.555 |
7280.177 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
190.059 |
669.689 |
625.564 |
|
(d) long-term provisions |
0.000 |
18.003 |
48.424 |
|
Total Non-current
Liabilities (3) |
190.059 |
687.692 |
673.988 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
6.976 |
0.000 |
0.000 |
|
(b) Trade payables |
4823.965 |
3906.429 |
3241.556 |
|
(c) Other current
liabilities |
4937.671 |
2845.354 |
4415.487 |
|
(d) Short-term provisions |
1283.083 |
1597.572 |
1219.970 |
|
Total Current Liabilities
(4) |
11051.695 |
8349.355 |
8877.013 |
|
|
|
|
|
|
TOTAL |
18919.988 |
16607.602 |
16831.178 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3442.729 |
3125.329 |
1779.619 |
|
(ii) Intangible Assets |
0.803 |
1.793 |
0.282 |
|
(iii) Capital
work-in-progress |
17.562 |
71.649 |
30.905 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.896 |
663.176 |
2279.020 |
|
(c) Deferred tax assets
(net) |
169.176 |
121.548 |
93.299 |
|
(d) Long-term Loan and Advances |
496.933 |
550.965 |
446.295 |
|
(e) Other Non-current
assets |
1911.080 |
819.625 |
879.328 |
|
Total Non-Current Assets |
6039.179 |
5354.085 |
5508.748 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
40.352 |
170.990 |
160.376 |
|
(b) Inventories |
943.060 |
789.159 |
627.388 |
|
(c) Trade receivables |
7005.818 |
6299.882 |
6474.732 |
|
(d) Cash and cash
equivalents |
1146.329 |
1492.411 |
1342.459 |
|
(e) Short-term loans and
advances |
2216.192 |
1373.679 |
1377.991 |
|
(f) Other current assets |
1529.058 |
1127.396 |
1339.484 |
|
Total Current Assets |
12880.809 |
11253.517 |
11322.430 |
|
|
|
|
|
|
TOTAL |
18919.988 |
16607.602 |
16831.178 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
18459.062 |
18726.302 |
18678.980 |
|
|
Other Income |
328.028 |
130.789 |
211.276 |
|
|
TOTAL |
18787.090 |
18857.091 |
18890.256 |
|
|
|
|
|
|
|
Less |
EXPENSES |
18357.295 |
18213.848 |
17690.468 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
429.795 |
643.243 |
1199.788 |
|
|
|
|
|
|
|
Less |
TAX |
3.767 |
208.824 |
603.164 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
426.028 |
434.419 |
596.624 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
3921.347 |
3888.588 |
3291.964 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
4347.375 |
3921.347 |
3888.588 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
Contract Revenue |
NA |
1204.520 |
597.247 |
|
|
Export of Products,
Spares, Parts and Components |
NA |
680.774 |
491.896 |
|
|
Sale from Services |
NA |
2076.948 |
2574.877 |
|
|
Commission Received |
NA |
4.374 |
39.873 |
|
|
Recovery of Costs |
NA |
68.793 |
60.200 |
|
|
Dividend Income |
NA |
0.236 |
0.898 |
|
|
TOTAL EARNINGS |
NA |
4035.645 |
3764.991 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
206.368 |
5.985 |
|
|
Components and Stores
parts |
NA |
1396.311 |
1885.836 |
|
|
Capital Goods |
NA |
13.348 |
14.098 |
|
|
TOTAL IMPORTS |
NA |
1616.027 |
1905.919 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
16.49 |
16.81 |
23.09 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current maturities of long-term debt |
NA |
0.000 |
0.804 |
|
Net cash flows from (used in) operations |
(4.380) |
1160.854 |
965.536 |
|
Net cash flows from (used in) operating activities |
(346.249) |
883.858 |
379.807 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.31 |
2.32 |
3.19 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
2.33 |
3.43 |
6.42 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.29 |
4.08 |
8.32 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.08 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.17 |
1.35 |
1.28 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
258.433 |
258.433 |
258.433 |
|
Reserves & Surplus |
7021.744 |
7312.122 |
7419.801 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
7280.177 |
7570.555 |
7678.234 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
6.976 |
|
Total borrowings |
0.000 |
0.000 |
6.976 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.001 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
18678.980 |
18726.302 |
18459.062 |
|
|
|
0.253 |
(1.427) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
18678.980 |
18726.302 |
18459.062 |
|
Profit |
596.624 |
434.419 |
426.028 |
|
|
3.19% |
2.32% |
2.31% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
------------------- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
------------------- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
------------------- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
------------------- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS
|
MADRAS HIGH COURT |
|
|
CASE STATUS INFORMATION SYSTEM |
|
|
Case Status |
Pending |
|
Status of |
APPLICATION 877 Of 2013 |
|
Litigants |
ENGINEERING PROJECTS Vs. FLSMIDTH PRIVATE LIMITED |
|
Pet’s Adv. |
S.K.THYAGARAJAN |
|
Res’s Adv. |
--- |
|
Last Date Hearing |
--- |
|
Next / Final Date of Hearing |
--- |
|
Case Updated on |
Friday, February 22, 2013 |
|
Category |
--- |
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
SHORT TERM
BORROWING |
|
|
|
Loans repayable on demand from banks |
1.631 |
0.000 |
|
Other loans and advances |
5.345 |
0.000 |
|
Total |
6.976 |
0.000 |
CONTINGENT
LIABILITIES (TO THE EXTENT NOT PROVIDED FOR):
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Bills
drawn on customers and discounted with Banks |
136.149 |
76.332 |
|
Outstanding letters of
credit with Bankers favouring Company’s
Suppliers are as below: |
|
|
|
-
US Dollars |
16.119 |
0.00 |
|
-
SEK |
0.000 |
11.736 |
|
-
Indian Rupees |
11.757 |
101.918 |
|
Claims
against the Company Not acknowledged as Debts: |
|
|
|
Service
Tax matters in Appeal |
7.462 |
7.462 |
|
Penalty
for Non-fulfillment of Export Obligations and the anticipated
customs duty liability |
57.387 |
57.387 |
|
Disallowance
on Tax Exemption - CST |
7045.897 |
0.000 |
|
Disallowance
on VAT Assessment |
2599.617 |
0.000 |
|
The
demand raised by the ESIC department against which Company
had filed an appeal before ESI Court, Gurgaon. (Amount
deposited Rs.418,328) |
1.628 |
1.628 |
|
Liquidated
damages deducted by customers not accepted by the Company
and pending settlement |
145.101 |
187.515 |
|
Show
Cause Notices Not acknowledged as Debts: |
|
|
|
Service
Tax |
1580.935 |
21.557 |
CORPORATE INFORMATION
Subject was incorporated on 18 April 2000 and is a subsidiary of FLSmidth Minerals Holding ApS, Denmark. The Ultimate Holding Company is FLSmidth and Company A/S, Denmark. The Company is engaged in the business of manufacturing and supplying of equipment for cement plants, supervision of erection and commissioning of cement plants and also undertakes turn-key projects (including erection and commissioning) for minerals processing industries ("Project Division") and renders related services. The Company also renders certain engineering, information technology and related services to its Group Companies. During the year ended 31 March 2013, pursuant to the receipt of approval from Hon’ble High Court of Judicature at Madras for the Scheme of Amalgamation between EEL India Private Limited ("EEL / Product Division") a Wholly Owned Subsidiary and the Company, the assets and liabilities of EEL have been transferred to the Company w.e.f 1 April 2011. Refer Note 42 for details of the Amalgamation and related adjustments.
MERGER
The Scheme of amalgamation of Ludowici India Private Limited and Ludowici Mining Process India Private Limited (which became a subsidiary during the year) with the Company was approved by the High Court of Judicature at Madras on 7 th February 2014 with effect from 1 st April 2013 (the Appointed Date) which has been given effect to in the accounts.
The Scheme of amalgamation of FLSmidth Pfister India Limited with the Company was approved by the High Court of Judicature at Bombay on 27 th June 2014 with effect from 1 st April 2013 (the Appointed Date) which has been given effect to in the accounts.
PERFORMANCE REVIEW
The performance of the Company was satisfactory during the period.
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and Equipment
- Furniture and Fixtures
- Vehicles
- Computer Equipment
- Office Equipment
Intangible assets
- Computer Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration:
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration:
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime:
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws:
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards:
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government:
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package:
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report:
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.79 |
|
|
1 |
Rs.99.94 |
|
Euro |
1 |
Rs.71.55 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
HNA |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
68 |
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.